Elon Musk plans to take over the role of the chief executive officer at Twitter Inc replacing Parag Agarwal after the completion of the $44 billion acquisition.
According to a source that spoke to Bloomberg Musk intends to remain CEO in the interim replacing the previous CEO Parag Agarwal who was fired with other major executives. Twitter representatives are yet to confirm this speculation.
After six months of complicated dispute Musk finally took charge of the struggling social media network. His first move included changing the leadership. Vijaya Gadde, head of legal, policy and trust; Ned Segal, Chief Financial Officer; and Sean Edgett, general counsel were let go with Agarwal.
The report also claims that Musk intends to do away with permanent bans as Musk doesn't believe in lifelong prohibitions. This could mean that the people that were previously banned would be allowed to return. But it is still a speculation as Twitter is yet to come out and confirm it.
Musk is paying $54.20 a share to acquire Twitter, but the shares of the social media platform closed at $53.35 on Wednesday.